Tag Archives: IMF

FDI hits 6-month low as concerns over IMF resurface Although Pakistan has stepped up efforts to attract billions of dollars in foreign investment since the current fiscal year began in July 2018, the investment dropped dramatically in January as concerns resurfaced over whether Islamabad was going to the International Monetary Fund (IMF). Foreign direct investment (FDI) dropped to a six-month …

A Saudi investment package is reportedly being carved out between Pakistan and Saudi Arabia, the epicenter of the investment is an estimated $10 billion refinery and oil complex in the strategic Gwadar Port. The Saudi investments are coming up at a time when Pakistan is experiencing economic woes. Saudi Arabia and its Gulf partner, the UAE, have already deposited $3 …

IMF calls for further taxation measures to stabilize economy Mr Umar admitted that there was a shortfall in revenue collections during the first five months of the current fiscal year owing to a reduction in petroleum prices and cell-phone card taxes Calling for further measures on the taxation front, the International Monetary Fund (IMF) has asked the government to raise …

Pakistan submits Chinese package details to IMF: Asad Umar Finance Minister Asad Umar on Monday stated that Pakistan has formally submitted details of the Chinese package to the International Monetary Fund, Express News reported. While talking to the media aboard a flight from Karachi to Islamabad, the finance minister apprised State Bank of Pakistan’s monetary and fiscal policies and stressed …

The T100 The best news since the PTI government took charge is its decision to finally initiate legal proceedings against Khadim Hussain Rizvi The Kaptaan’s first 100 (plus some) days have left even his most die-hard followers a bit red-faced, reduced to parroting the familiar refrain, “So would you rather have Nawaz? Or Zardari?” as an excuse. Not that any …

Rupee weakens against dollar The rupee weakened against the dollar at Rs133.93/Rs134.11 in the inter-bank market on Monday compared with Friday’s close of Rs133.88/Rs134.07, according to the State Bank of Pakistan (SBP). Last month, the rupee strengthened after Saudi Arabia agreed on a $6-billion assistance package for Pakistan. Earlier in October, a slump in the value of the rupee came …

Budget deficit widens to Rs541.7b amid lax spending control The budget deficit in first quarter of the current fiscal year widened to Rs541.7 billion in the wake of loose control over debt and defence spending, suggesting things may get out of the control of Pakistan Tehreek-e-Insaf (PTI) government. The Rs541.7-billion deficit was equal to 1.4% of the gross domestic product …

As policy-level talks kick off, IMF stresses higher tax collection in Pakistan The International Monetary Fund (IMF) has expressed its dissatisfaction at the current state of Pakistan’s tax collection, a team representing the body that arrived here in the city to discuss the country’s ongoing financial crisis said late Monday. Earlier in the day, the delegation, which has already concluded …

Industry fumes as promised gas price reductions fail to appear on latest bills Industry leaders were up in arms on Monday as one after another they all received gas bills as per the old tariff, in fact slightly higher, as opposed to the steep cuts in gas tariff that they had been promised by the government in September. “How were …

Rupee sharply regains Rs1.92 against greenback in inter-bank market The rupee has been depreciated five times against the greenback since December 2017, which has seen the local currency losing a cumulative 27% of its value against the greenback The rupee gained strongly against the dollar in the inter-bank market on Wednesday, as it regained Rs1.92 to trade at Rs132 on …